traders are showing less and less interest in buying back the fall in BTC (historically bullish).
In addition, options traders are betting that the price of BTC could surpass its all-time high by the end of June.
Whales continue to accumulate $DOGE
It’s not surprising, after Tesla added the coin as a means of payment, its rate increased, as well as the demand for purchase from whales.
💰 Bitcoin sitting just under the 50 Day moving average.
Mega-bullish when it breaks above 50DMA in a bull market. 🚀
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$149.1M Liquidated in last 24 Hrs
Long Liquidation: $116.6M 📈
Short Liquidation : $32.5M 📉
📊 High Liquidations : (Binance)
Longs : BTC $12.4M, ETH $6.5M, SOL $3.8M, DOGE $1.7M
Shorts : BTC $6.1M, ETH $2.7M, FRONT $1.3M, TRB $1.2M
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Bitcoin mining difficulty dropped by a significant 5.62% 👇
📈 As a result of the second recalculation of the indicator after halving , a drop in mining difficulty is observed.
📈 The last time such a large correction occurred was during the bear market in December 2022.
📈 The average network hashrate dropped below 600 EH/s , signaling the shutdown of some equipment by miners.
BTC and PlanB
The average BTC price during the halving cycle in 2020-2024 was 34K, which is slightly lower than the forecast for 2019 of 55K.
With this in mind, PlanB updated its S2F model with new data and determined the average BTC price for the new halving cycle in 2024-2028 — this is a mark at 500K.
As for the next cycle in 2028-2032, in
opinion, BTC will reach a price of 4M.
Everything sounds as optimistic as possible and even sky-high in some places. However, remember when BTC was worth less than $ 1 — growth to 70K seemed impossible. The cryptocurrency market is developing exponentially, which means that in the next decade, we may actually see similar figures.
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Joe Biden Administration says Biden would veto legislation that would allow highly regulated financial firms to custody Bitcoin and crypto.
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